The government's primary foreclosure prevention program – Home Affordable Modification Program (HAMP) – has not lived up to expectations and will wind up helping just a fraction of its target audience, according to a new report from the bipartisan Congressional Oversight Panel (COP).

The COP said that the HAMP may aid up to 800,000 troubled mortgagors at best, far fewer than the 4 million the Treasury Department had hoped to assist.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.